Netflix (NASDAQ:NFLX) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Netflix (NASDAQ:NFLX) from a buy rating to a hold rating in a research report report published on Tuesday.

Several other analysts also recently weighed in on the company. Guggenheim upped their price objective on Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Argus increased their price target on Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Seaport Res Ptn raised Netflix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and increased their price target for the stock from $680.00 to $1,494.00 in a report on Wednesday, January 22nd. Finally, Piper Sandler restated an “overweight” rating and issued a $1,100.00 target price (up previously from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.70.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $1,015.68 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The stock’s fifty day moving average price is $912.05 and its two-hundred day moving average price is $786.03. Netflix has a one year low of $542.01 and a one year high of $1,016.35. The firm has a market cap of $434.47 billion, a price-to-earnings ratio of 51.22, a P/E/G ratio of 2.02 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company’s revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.11 EPS. On average, equities analysts forecast that Netflix will post 24.58 EPS for the current year.

Insider Transactions at Netflix

In other news, Director Timothy M. Haley sold 647 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $800.19, for a total transaction of $517,722.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gregory K. Peters sold 102,228 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the sale, the chief executive officer now directly owns 12,950 shares in the company, valued at approximately $12,700,583. The trade was a 88.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 292,270 shares of company stock worth $278,469,388. Company insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. West Michigan Advisors LLC raised its holdings in Netflix by 1.3% in the 4th quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock valued at $692,000 after acquiring an additional 10 shares during the last quarter. Enzi Wealth raised its holdings in Netflix by 3.4% in the 4th quarter. Enzi Wealth now owns 331 shares of the Internet television network’s stock valued at $316,000 after acquiring an additional 11 shares during the last quarter. TCI Wealth Advisors Inc. raised its holdings in Netflix by 1.6% in the 4th quarter. TCI Wealth Advisors Inc. now owns 700 shares of the Internet television network’s stock valued at $624,000 after acquiring an additional 11 shares during the last quarter. Blossom Wealth Management increased its holdings in shares of Netflix by 0.9% during the 4th quarter. Blossom Wealth Management now owns 1,248 shares of the Internet television network’s stock worth $1,112,000 after buying an additional 11 shares during the last quarter. Finally, Everett Harris & Co. CA increased its holdings in shares of Netflix by 1.3% during the 4th quarter. Everett Harris & Co. CA now owns 870 shares of the Internet television network’s stock worth $775,000 after buying an additional 11 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

About Netflix

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.